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Hypothyroidism Market Size, Share, Growth, Forecast: By Drug: Levothyroxine, Liothyronine; By Route of Administration: Oral, Parenteral, Others; By Distribution Channel: Wholesale Distribution, Retail Stores, Online Pharmacy; Regional Analysis; Patent Analysis; Grants Analysis; Clinical Trials Analysis; Funding Analysis; Supplier Landscape; 2024-2032
Hypothyroidism Market Outlook
The hypothyroidism market size was valued at USD 2.1 billion in 2023 in the 7 major markets, driven by the rising incidence of thyroid gland disorders. The market is expected to grow at a CAGR of 4.60% during the forecast period of 2024-2032, with the values likely to rise from USD 2.3 billion in 2024 to USD 3.3 billion by 2032.
Hypothyroidism: Introduction
Hypothyroidism, also known as underactive thyroid, occurs when the thyroid gland produces less thyroid hormone than needed by the body. This condition is commonly diagnosed by blood tests. Symptoms vary from person to person, depending on the severity. Common symptoms include weight gain, tiredness, dry skin, sensitivity to cold, constipation among others. Thyroid hormone medicines are frequently used as a treatment for the condition.
Hypothyroidism Market Analysis
The hypothyroidism market demand has increased with the increasing incidence of Hashimoto's Thyroiditis, which is an autoimmune disorder impacting the thyroid gland and causing hypothyroidism.
While levothyroa, the synthetic form of T4 hormone, is the most prescribed thyroid medicine, there has been focus on developing other effective medicines as well. Selenium supplements and thyroid hormone analogs, which help in hormone deficiency compensation and corticosteroids, are emerging as potential treatment alternatives in the market. Desiccated thyroid extract (DTE), a natural blend of thyroid hormone containing both T3 and T4, has shown positive results in trials.
Apart from drug administration, there have been significant developments to treat the condition on the cellular level. In September 2023, Sernova Corp., a clinical-stage cell therapeutics company, unveiled a new cell therapy platform called the ‘Cell Pouch System’ to treat post operative hypothyroidism. Reimplantation of the thyroid tissue into the pre-vascularized Cell Pouch™ led to restoration of the thyroid hormones. The arrival of such technologies demonstrates that the hypothyroidism market value is projected to grow in the forecast period.
Hypothyroidism Market Segmentation
Market Breakup by Drug Class
- Levothyroxine
- Liothyronine
Market Breakup by Route of Administration
- Oral
- Parenteral
- Others
Market Breakup by Distribution Channel
- Wholesale Distribution
- Retail Stores
- Online Pharmacy
Market Breakup by Region
- United States
- EU-4 and the United Kingdom
- Germany
- France
- Italy
- Spain
- United Kingdom
- Japan
Hypothyroidism Market Overview
Hypothyroidism affects approximately 5% of the global population with women being at a higher risk of getting affected. In the historical period, the United States has held a substantial part of the hypothyroidism market share. The increasing innovations in the medical field due to the existence of healthcare companies and research institutions, has largely contributed to the market growth.
Europe is also leading the market with the help of significant initiatives taken by the government to spread awareness on early recognition of the disease. The region has a well-equipped healthcare infrastructure to support the rising medical demands owing to the geriatric population. Major mergers and acquisitions between influential pharmaceutical and MedTech companies are impacting the market positively.
Similar trend can be observed in the Asia Pacific region, that has been undergoing significant hypothyroidism market growth. In May 2023, IBSA launched an international campaign called “Feel Thyroid” to promote greater knowledge and understanding of the symptoms. The campaign aimed at improving communication between doctors and patients to identify the most apt therapeutic treatment for the patients. Moreover, increasing privatization in the healthcare sector is also expected to foster growth with several companies stepping in to develop effective therapeutics.
Hypothyroidism Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- AbbVie Inc.
- Merck & Co.
- Lannett Company, Inc.
- Allergan plc
- Mylan N.V.
- GlaxoSmithKline plc
- Novartis AG
- RLC LABS
- Abbott Laboratories
- Viatris
- Elexis
- IBSA Pharma
- Amgen
- Fresenius SE and Co.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Drug |
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| Breakup by Route of Administration |
|
| Breakup by Distribution Channel |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Hypothyroidism Overview
3.1 Guidelines and Stages
3.2 Pathophysiology
3.3 Screening and Diagnosis
3.4 Treatment Pathway
4 Patient Profile
4.1 Patient Profile Overview
4.2 Patient Psychology and Emotional Impact Factors
4.3 Risk Assessment and Treatment Success Rate
5 Hypothyroidism Epidemiology Analysis – 7MM
5.1 7MM Epidemiology Scenario Overview (2017-2032)
5.2 United States Hypothyroidism Epidemiology Forecast (2017-2032)
5.3 EU-4 and United Kingdom Hypothyroidism Epidemiology Forecast (2017-2032)
5.3.1 Germany Hypothyroidism Epidemiology Forecast (2017-2032)
5.3.2 France Hypothyroidism Epidemiology Forecast (2017-2032)
5.3.3 Italy Hypothyroidism Epidemiology Forecast (2017-2032)
5.3.4 Spain Hypothyroidism Epidemiology Forecast (2017-2032)
5.3.5 United Kingdom Hypothyroidism Epidemiology Forecast (2017-2032)
5.4 Japan Hypothyroidism Epidemiology Forecast (2017-2032)
6 Hypothyroidism Market Overview – 7MM
6.1 Hypothyroidism Market Historical Value (2017-2023)
6.2 Hypothyroidism Market Forecast Value (2024-2032)
7 Hypothyroidism Market Landscape – 7MM
7.1 Hypothyroidism: Developers Landscape
7.1.1 Analysis by Year of Establishment
7.1.2 Analysis by Company Size
7.1.3 Analysis by Region
7.2 Hypothyroidism Product Landscape
7.2.1 Analysis by Drug
7.2.2 Analysis by Route of Administration
8 Hypothyroidism Challenges and Unmet Needs
8.1 Treatment Pathway Challenges
8.2 Compliance and Drop-Out Analysis
8.3 Awareness and Prevention Gaps
9 Cost of Treatment
10 Hypothyroidism Market Dynamics
10.1 Market Drivers and Constraints
10.2 SWOT Analysis
10.3 Porter’s Five Forces Model
10.4 Key Demand Indicators
10.5 Key Price Indicators
10.6 Industry Events, Initiatives, and Trends
10.7 Value Chain Analysis
11 Hypothyroidism Market Segmentation – 7MM
11.1 Hypothyroidism Market by Drug
11.1.1 Market Overview
11.1.2 Levothyroxine
11.1.3 Liothyronine
11.2 Hypothyroidism Market by Route of Administration
11.2.1 Market Overview
11.2.2 Oral
11.2.3 Parenteral
11.2.4 Others
11.3 Hypothyroidism Market by Distribution Channel
11.3.1 Market Overview
11.3.2 Wholesale Distribution
11.3.3 Retail Stores
11.3.4 Online Pharmacy
11.4 Hypothyroidism Market by Region
11.4.1 Market Overview
11.4.2 United States
11.4.3 EU-4 and the United Kingdom
1.1.1.1 Germany
1.1.1.2 France
1.1.1.3 Italy
1.1.1.4 Spain
1.1.1.5 United Kingdom
11.4.4 Japan
12 United States Hypothyroidism Market
12.1 Hypothyroidism Market Historical Value (2017-2023)
12.2 Hypothyroidism Market Forecast Value (2024-2032)
12.3 Hypothyroidism Market by Disease Type
12.4 Hypothyroidism Market by Treatment Type
13 EU-4 and United Kingdom Hypothyroidism Market
13.1 Hypothyroidism Market Historical Value (2017-2023)
13.2 Hypothyroidism Market Forecast Value (2024-2032)
13.3 Germany Hypothyroidism Market Overview
13.3.1 Hypothyroidism Market by Disease Type
13.3.2 Hypothyroidism Market by Treatment Type
13.4 France Hypothyroidism Market Overview
13.4.1 Hypothyroidism Market by Disease Type
13.4.2 Hypothyroidism Market by Treatment Type
13.5 Italy Hypothyroidism Market Overview
13.5.1 Hypothyroidism Market by Disease Type
13.5.2 Hypothyroidism Market by Treatment Type
13.6 Spain Hypothyroidism Market Overview
13.6.1 Hypothyroidism Market by Disease Type
13.6.2 Hypothyroidism Market by Treatment Type
13.7 United Kingdom Hypothyroidism Market Overview
13.7.1 Hypothyroidism Market by Disease Type
13.7.2 Hypothyroidism Market by Treatment Type
14 Japan Hypothyroidism Market
14.1 Hypothyroidism Market Historical Value (2017-2023)
14.2 Hypothyroidism Market Forecast Value (2024-2032)
14.3 Hypothyroidism Market by Disease Type
14.4 Hypothyroidism Market by Treatment Type
15 Patent Analysis
15.1 Analysis by Type of Patent
15.2 Analysis by Publication year
15.3 Analysis by Issuing Authority
15.4 Analysis by Patent Age
15.5 Analysis by CPC Analysis
15.6 Analysis by Patent Valuation
15.7 Analysis by Key Players
16 Grants Analysis
16.1 Analysis by year
16.2 Analysis by Amount Awarded
16.3 Analysis by Issuing Authority
16.4 Analysis by Grant Application
16.5 Analysis by Funding Institute
16.6 Analysis by NIH Departments
16.7 Analysis by Recipient Organization
17 Clinical Trials Analysis
17.1 Analysis by Trial Registration Year
17.2 Analysis by Trial Status
17.3 Analysis by Trial Phase
17.4 Analysis by Therapeutic Area
17.5 Analysis by Geography
18 Funding Analysis
18.1 Analysis by Funding Instances
18.2 Analysis by Type of Funding
18.3 Analysis by Funding Amount
18.4 Analysis by Leading Players
18.5 Analysis by Leading Investors
18.6 Analysis by Geography
19 Partnership and Collaborations Analysis
19.1 Analysis by Partnership Instances
19.2 Analysis by Type of Partnership
19.3 Analysis by Leading Players
19.4 Analysis by Geography
20 Supplier Landscape
20.1 AbbVie Inc.
20.1.1 Financial Analysis
20.1.2 Product Portfolio
20.1.3 Demographic Reach and Achievements
20.1.4 Mergers and Acquisition
20.1.5 Certifications
20.2 Merck & Co.
20.2.1 Financial Analysis
20.2.2 Product Portfolio
20.2.3 Demographic Reach and Achievements
20.2.4 Mergers and Acquisition
20.2.5 Certifications
20.3 Lannett Company, Inc.
20.3.1 Financial Analysis
20.3.2 Product Portfolio
20.3.3 Demographic Reach and Achievements
20.3.4 Mergers and Acquisition
20.3.5 Certifications
20.4 Allergan plc
20.4.1 Financial Analysis
20.4.2 Product Portfolio
20.4.3 Demographic Reach and Achievements
20.4.4 Mergers and Acquisition
20.4.5 Certifications
20.5 Mylan N.V.
20.5.1 Financial Analysis
20.5.2 Product Portfolio
20.5.3 Demographic Reach and Achievements
20.5.4 Mergers and Acquisition
20.5.5 Certifications
20.6 GlaxoSmithKline plc
20.6.1 Financial Analysis
20.6.2 Product Portfolio
20.6.3 Demographic Reach and Achievements
20.6.4 Mergers and Acquisition
20.6.5 Certifications
20.7 Novartis AG
20.7.1 Financial Analysis
20.7.2 Product Portfolio
20.7.3 Demographic Reach and Achievements
20.7.4 Mergers and Acquisition
20.7.5 Certifications
20.8 RLC LABS
20.8.1 Financial Analysis
20.8.2 Product Portfolio
20.8.3 Demographic Reach and Achievements
20.8.4 Mergers and Acquisition
20.8.5 Certifications
20.9 Abbott Laboratories
20.9.1 Financial Analysis
20.9.2 Product Portfolio
20.9.3 Demographic Reach and Achievements
20.9.4 Mergers and Acquisition
20.9.5 Certifications
20.10 Viatris
20.10.1 Financial Analysis
20.10.2 Product Portfolio
20.10.3 Demographic Reach and Achievements
20.10.4 Mergers and Acquisition
20.10.5 Certifications
20.11 Elexis
20.11.1 Financial Analysis
20.11.2 Product Portfolio
20.11.3 Demographic Reach and Achievements
20.11.4 Mergers and Acquisition
20.11.5 Certifications
20.12 IBSA Pharma
20.12.1 Financial Analysis
20.12.2 Product Portfolio
20.12.3 Demographic Reach and Achievements
20.12.4 Mergers and Acquisition
20.12.5 Certifications
20.13 Amgen
20.13.1 Financial Analysis
20.13.2 Product Portfolio
20.13.3 Demographic Reach and Achievements
20.13.4 Mergers and Acquisition
20.13.5 Certifications
20.14 Fresenius SE and Co.
20.14.1 Financial Analysis
20.14.2 Product Portfolio
20.14.3 Demographic Reach and Achievements
20.14.4 Mergers and Acquisition
20.14.5 Certifications
21 Hypothyroidism Market - Distribution Model (Additional Insight)
21.1 Overview
21.2 Potential Distributors
21.3 Key Parameters for Distribution Partner Assessment
22 Key Opinion Leaders (KOL) Insights (Additional Insight)
23 Company Competitiveness Analysis (Additional Insight)
23.1 Very Small Companies
23.2 Small Companies
23.3 Mid-Sized Companies
23.4 Large Companies
23.5 Very Large Companies
24 Payment Methods (Additional Insight)
24.1 Government Funded
24.2 Private Insurance
24.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 2.1 billion in 2023, driven by the increasing incidence of thyroid gland disorders across the 7 major markets.
The market is anticipated to grow at a CAGR of 4.60% during the forecast period of 2024-2032, likely to reach a market value of USD 3.3 billion by 2032.
The market demand is driven by the rising technical advancements and drug approvals helping in offering better treatment to the patients.
Major market trend involves the application of new medications to treat hypothyroidism. Selenium supplements, thyroid hormone analogues like tiratricol, and corticosteroids are emerging as potential treatment alternatives in the market.
Based on drug class, the market is divided into levothyroxine and liothyronine.
Major distribution channels include wholesale distribution, retail stores, and online pharmacies.
The route of administration can be oral and parenteral, among others.
The major regions of the market include the United States, Japan, EU-4 and the United Kingdom. EU-4 is segmented into Germany, France, Italy, and Spain.
Key players involved in the market are AbbVie Inc., Merck & Co., Lannett Company, Inc., Allergan plc, Mylan N.V., GlaxoSmithKline plc, Novartis AG, RLC LABS, Merck & Co., Abbot Laboratories, Viatris, Elexis, IBSA Pharma, Fresenius SE and Co., and Amgen.
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